How to Evaluate the Success of Your Business
Business Coach in Houston
1. - Determine your goals for the business. Your goals should be specific,
measurable, attainable, realistic, and have a time period attached to them. Write down all of these goals so that you can review them as you're evaluating your business strategic process.
2. - Review your business plan to familiarize yourself with your initial strategic plan again as you're navigating the evaluation process.
3. - Prepare an income statement for the period that you wish to evaluate, whether it's a year or one quarter so that you can evaluate sales results. Compare the sales during that period with the results from the previous period to see if you're making positive progress. Compare the amounts of your business expenses as well make sure that your costs aren't trending upward without reasonable cause.
4. - Evaluate the success of your business strategic plan by surveying your customers, employees and business associates. You can ask direct questions of specific people or create an online survey to get anonymous responses and gauge if you're getting the type of response you hoped for from these important parties to your business.
5. - Keep track of the results of your advertising and promotional plan using tracking services offered by the company placing your ads or by researching the sources of your sales. For instance, some companies create individual websites associated with specific advertising campaigns to find out which messages and offers work the best. Some online ad serving companies gather statistics about clicks and interest in your web-based advertisements.
Source: SmallBusiness
Patty Block, President and Founder of The Block Group, established her company to advocate for women-owned businesses, helping them position their companies for strategic growth. Charting the course for impactful, sustainable, profitable businesses, the beacon is control: of your strategic direction, your money, your time, your staffing, and your ability to bring in business. The Block Group brings together the people, resources and ideas that build results.
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